Sigma Raises $200 Million in Series D Funding
16 Mayo 2024 - 7:35AM
Business Wire
The round was co-led by new investors Spark
Capital and Avenir Growth Capital with all previous investors
returning, including Snowflake Ventures and Sutter Hill
Ventures
Sigma, the first and only cloud analytics solution built
natively for cloud scale, today announced further evidence it is
the market growth leader in cloud data analytics and the go-to
application and workflow platform for cloud data apps. The company
announced it has raised $200M in Series D financing to continue
transforming BI through its innovations in AI infrastructure, data
application development, enterprise-wide collaboration, and
business user adoption.
Spark Capital and Avenir Growth Capital co-led the round with
additional investments from new investor NewView Capital. All
previous investors participated in the round, including Snowflake
Ventures, Sutter Hill Ventures, D1 Ventures, Xn Ventures, and
Altimeter Capital. The Series D funding, raised at a valuation 60%
higher than the company’s Series C round three years ago, promises
to further accelerate Sigma’s growth.
“Spark Capital is proud to partner with Sigma on its journey
toward building a market leading data analytics platform. It's been
amazing to witness how quickly Sigma becomes pervasive within a
company once users get their hands on the tool and are empowered to
make faster, smarter, and more data-driven business decisions,"
said James Kuklinski, General Partner, Spark Capital. “Unique
features like Sigma’s Input Tables allow teams to effortlessly
incorporate deeper context into their analyses by bringing their
own data directly into the cloud data warehouse, all without
writing any code. That kind of capability spreads like wildfire
through enterprises and unlocks a new level of decision-making and
collaboration.”
"As users of Sigma ourselves, we've experienced firsthand how
powerful it is to democratize access to data and get it into the
hands of users in an interface they are familiar with,” said Jared
Sleeper, Partner, Avenir Growth Capital. “For the first time,
people in charge of making business decisions can access their
organizations' data as if it were in a spreadsheet, building
conviction and generating insights faster than ever before."
Added Nick Bunick, Principal, NewView Capital, "It's rare to see
software proliferate across organizations the way Sigma has, which
speaks to how exceptional Sigma's team and product is. What makes
Sigma so unique is the ability to use their product across SQL,
Python, spreadsheets and natural language as a true warehouse and
lakehouse native product."
This past year, Sigma has demonstrated significant momentum,
achieving record growth in revenues, new logo acquisition, and
expansion of its partner ecosystem. Sigma is helping enterprises
realize new value from their cloud transformation by improving the
scale and security of BI, adding previously impossible
functionality like warehouse writeback, real-time collaboration,
and application development. Sigma’s customers are able to adopt
its platform across all departments without having to train on new
skills, resulting in immediate data democratization, high velocity
and higher accuracy decision-making, collaboration, and workflow
automation.
“Sigma is proving that there is deep market demand for driving
greater productivity and monetization as a result of the cloud data
transition. Just as infrastructure has consolidated on just a few
cloud providers, and cloud data with even fewer application
providers, Sigma is the winner in the application space, enabling
everyone, from the least to the most technical employees, to gain
new value from their cloud investment,” said Mike Palmer, Sigma
CEO. “With the product enhancements we’re rolling out related to
AI, Python and data applications, Sigma is defining the next
category of data platforms and, as a result, also driving industry
leading growth and adoption from the Fortune 10 to the latest
startup.”
Sigma is focused on continuing to reinvent data analytics and
shipping new innovations. The company recently announced it was
rolling out a slew of new product features highlighted in its
Spring product launch. Those features include:
- The AI Toolkit for Business
- Capabilities to build scalable Data Applications
- A notebook-style experience in Sigma for both SQL and Python
coding experiences
- User experience enhancements to Sigma’s Embedded Analytics
product
For more information on Sigma and how it's changing the way
organizations use data, visit https://www.sigmacomputing.com/.
ABOUT SIGMA
Sigma redefines business intelligence by enabling instant,
in-depth data analysis on billions of records through an intuitive
spreadsheet interface. Its write-back capability and comprehensive
support system accelerate organizational growth and innovation.
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